Does BB&T Offer Student Loans?

BB&T (Branch Banking & Trust) Corporation is an American bank that offers both retail and commercial banking services. In addition, the bank also offers loans, mortgage, trusts, international banking, retail brokerage and other related services. Although BB&T’s office is located in North Carolina, it has more than 1,800 branches across the USA.

BB&T and Student Loans

The Loan Services Department at BB&T is responsible for distributing all types of loans to its clients, as it reviews loan documents and decides on how much loans to disburse. Although the bank’s primary focus is not student loans, students may be able to borrow money from the bank in the form of private loans. While these loans often have interest rates higher than federal loans, they may be your only choice if you have already run out of all your federal loan options. However, you may use these loans for various purposes, like covering your living and travel costs during the course of your education and even supporting your family while you take time off to go back to school.

529 Plans

If you are considering approaching BB&T for funding, then you may also want to explore their 529 plans. These plans offer tax-advantaged savings for future college expenses. However, you should start these plans early if you want to take advantage of them. Also, check with BB&T to see if the 529 plan you are opting for allows you to make withdrawals immediately or if you will be subject to a waiting period.

The BB&T Scholarship

For children of the employees of BB&T, the bank also offers the BB&T Scholarship. This scholarship provides a $1,000 stipend for ten students every year, renewable for the length of an undergraduate degree. These scholarships target exceptionally bright students who are children of BB&T employees and its subsidiaries’ associates. The National Merit Scholarship Corporation (NMSC) administers the scholarship and it is an independent and not-for-profit organization.

Frequently Asked Questions

What kinds of student educational expenses are covered by BB&T loans?

Although BB&T no longer offers student loans, their personal loans can help you cover various expenses, including living and travel costs during the course of your education while paying tuition, and even supporting your family while taking time off to return to school. With rising costs and inflation, education has become unaffordable for many students; with the help of BB&T loans, students can fulfill their academic goals and pursue the career of their dreams.

Do BB&T loans help cover student living expenses too?

BB&T loans can be used for all kinds of education related expenses, such as living and travel expenses. Students can obtain more information online and seek guidance/help about applying for BB&T loans. These loans have been specifically designed to meet the diverse financial needs of individuals and are a perfect way for students to cover living costs.

Federal loan information: All colleges participate in the Direct Lending program, which means a student enrolled at that school receives their federal student loans (including Stafford, PLUS and GradPLUS loans) directly from the school instead of from a lender.